Since its inception in 1939, Bahrain Chamber of Commerce and Industry (BCCI) has played a crucial role in spurring the country's economy, said its chairman Khalid Almoayed.

The chamber, then known as the General Merchant's Association, was established when the country was going through a drastic transformation with the growth of key sectors as a result of the discovery of natural oil, said a report in the Gulf Daily News (GDN), our sister publication.

Since then the chamber has succeeded in reviving the private sector, diversifying the economy and encouraging trade and investments, Mr Almoayed told the GDN as the BCCI celebrates its 75th anniversary today.

“Since its founding, it has exerted all efforts to empowering the private sector and raising its competitiveness by identifying its hurdles and resolving them,” he said.

“It has succeeded in resolving numerous obstacles as well as business disputes and safeguarding the interest of the private sector.”

According to Almoayed, the chamber has sought to improve its operations to meet the private sector's aspirations and serve the economy as a whole, henceforth established internal committees to ensure the quality and efficiency of its operations; sectoral committees to tackle issues related to each sector; joint committees with government bodies to integrate efforts directed to streamlining the operations of the private sector; and joint business councils with neighbouring and friendly countries to encourage investment, trade and business activities.

Almoayed said the BCCI's vision was to become the leading voice of the business community, and an influential partner in economic decisions-making.

Over the years, the chamber has liaised between Bahrain and neighbouring countries leading to a growth in trade and investment opportunities, he added.

It has also established joint business councils with numerous countries and contributed to the founding of key organisations that serve to facilitate commerce and trade including the GCC Commercial Arbitration Centre.

Through its Small and Medium Enterprises (SMEs) Support and Development Centre, BCCI has been the leader in embracing innovators and entrepreneurs, and helping them turn their ideas into lucrative business ventures.

The chamber elected a new board last year led by Almoayed. Other members include first deputy chairman Othman Al Rayes, second deputy chairman Jawad Al Hawaj, treasurer Isa Al Rafaie and deputy treasurer Mohammed Sajid.

Nabeel Kanoo and Khalid Al Amin were elected members of the executive bureau, and other board members are Afnan Al Zayani, Deema Al Haddad, Shaikha Hind bint Salman Al Khalifa, Ahlam Janahi, Adel Al A'ali, Abdulhameed Al Kooheji, Khalid Al Zayani, Mohamed Adel Fakhro, Abdulhakim Al Shammari, Ahmed Bin Hindi and Mohammed Farooq Almoayyed. - TradeArabia News Service